Nigeria Spent N74 billion on ICT

Mr. A. M. Lawal, acting executive director of Nigeria Export promotion council said that government has spent over N74 billion ($560m) so far on Information and Communications Technology (ICT) in Nigeria.
He disclosed this at the opening ceremony of the fifth edition of the Bridges across Borders conference on Business process outsourcing and information technology outsourcing organized by the council held in Abuja.
He said that the huge amount of the money spent by the government on the sector has the capacity of creating more than N29.5 billion ($200m) as tax revenue to the government and will also contribute over N141 billion ($1.1billion) to the GDP growth rate in the country.
According to him, the recent United Nation conference on trade and development information economy statistic report of 2007 to 2008 indicated that ICT enabled services have grown faster than the total services export during the period 2000 – 2005. In 2005 $1.1 trillion value of ICT enabled services represented 50% percent of the total service exports compared to 37% in 1995 to 2004. And that China and India are the world leading players in the export of ICT goods and services.
In a keynote address, Engr. Charles Ugwu, former minister of Commerce and Industry, said the telecoms market in Nigeria worth $10billion by 2010.
“Nigerians’ average monthly spending on telephone alone is about N2, 570 (US$22) while the telecoms market subscribers base has hit about 45.5million as at August 2007 and it is expected to reach N50 million with the new investors coming in by December 2008 the Minister stress the need for Nigerians to use the opportunity of Networking like Bridges Across Borders and African outsourcing to play active role in standard setting for the industry to develop.
The conference is the first of it kind to be organized in Nigeria.